Brokerages Set Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) Target Price at $38.20

Shares of Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL) have received an average recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $39.8333.

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald lifted their price target on Rigel Pharmaceuticals from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rigel Pharmaceuticals in a report on Wednesday, October 8th. Jefferies Financial Group upgraded Rigel Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price target for the company from $23.00 to $42.00 in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $57.00 price target on shares of Rigel Pharmaceuticals in a report on Wednesday, October 8th. Finally, Zacks Research downgraded Rigel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new position in Rigel Pharmaceuticals during the 1st quarter worth $488,000. Strs Ohio purchased a new position in Rigel Pharmaceuticals during the 1st quarter worth $389,000. Acadian Asset Management LLC grew its stake in Rigel Pharmaceuticals by 50.1% during the 1st quarter. Acadian Asset Management LLC now owns 565,045 shares of the biotechnology company’s stock worth $10,161,000 after buying an additional 188,679 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Rigel Pharmaceuticals by 7.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 217,776 shares of the biotechnology company’s stock worth $3,918,000 after buying an additional 15,687 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Rigel Pharmaceuticals during the 1st quarter worth $804,000. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

Rigel Pharmaceuticals Stock Up 33.4%

Rigel Pharmaceuticals stock opened at $37.85 on Thursday. The company has a quick ratio of 1.90, a current ratio of 2.02 and a debt-to-equity ratio of 0.46. The firm has a market cap of $678.92 million, a P/E ratio of 7.00 and a beta of 1.20. The business has a fifty day moving average of $32.41 and a two-hundred day moving average of $26.09. Rigel Pharmaceuticals has a twelve month low of $14.47 and a twelve month high of $43.72.

Rigel Pharmaceuticals (NASDAQ:RIGL) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.53. Rigel Pharmaceuticals had a return on equity of 438.89% and a net margin of 36.51%.The business had revenue of $69.46 million for the quarter, compared to the consensus estimate of $61.88 million. Rigel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts forecast that Rigel Pharmaceuticals will post 0.22 earnings per share for the current fiscal year.

Rigel Pharmaceuticals Company Profile

Rigel Pharmaceuticals, Inc, a biotechnology company, engages in discovering, developing, and providing therapies that enhance the lives of patients with hematologic disorders and cancer. The company’s commercialized products include Tavalisse, an oral spleen tyrosine kinase inhibitor for the treatment of adult patients with chronic immune thrombocytopenia; Rezlidhia, a non-intensive monotherapy for the treatment of adult patients with relapsed or refractory (R/R) acute myeloid leukemia (AML) with a susceptible isocitrate dehydrogenase-1 (IDH1) mutation as detected by an FDA-approved test; and GAVRETO, a once daily, small molecule, oral, kinase inhibitor for the treatment of adult patients with metastatic rearranged during transfection (RET) fusion-positive non-small cell lung cancer, as well as for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.